Clal Insurance to sell US subsidiary Guard

By GLOBES
April 2, 2012 10:23

Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS), controlled by Nochi Dankner, is about to sell Guard Insurance Group, the vehicle for the group's activity in the US, for a price somewhat in excess of $200 million. A formal announcement to the Tel Aviv Stock Exchange is expected on Monday.

Guard was acquired in 2007 for $120 million. In August 2011, the possibility was raised of a sale to US company Employers for $312 million.

If the price of the current deal is as reported, it would reflect a downturn in Guard's expected evaluation because of recent weak results.


Related Content

Breaking news
April 24, 2018
N.Korean leader visits China embassy, hospital after fatal bus crash

By REUTERS

Israel Weather
  • 11 - 31
    Beer Sheva
    14 - 25
    Tel Aviv - Yafo
  • 14 - 27
    Jerusalem
    13 - 25
    Haifa
  • 18 - 33
    Elat
    15 - 32
    Tiberias